Slide 1: First Half 2014 Results
FIRST HALF 2014 RESULTS pre Pee Vie ez
Slide 2: A dynamic first-half performance for ID Logistics
A dynamic first-half performance for ID Logistics Continued strong commercial performance Strategic benefits of acquiring CEPL and new opportunities opening up for the Group Strong financial performance during the first half – Increased revenue – Further margin improvement – Robust balance sheet and
Slide 3: "Smart logistics" driving value creation
1. 2. 3. “Smart logistics” driving First half 2014 Outlook value creation results 3 - H1 2014 results – 28 August 2014
Slide 4: ID Logistics' three fundamental strengths
ID Logistics’ three fundamental strengths Contract logistics specialist 1 2 3 Constantly expand its Develop Support its market by innovative customers technical bringing in new with their customers worldwide solutions, “smart logistics” and moving into expansion new areas 4 - H1 2014 results – 28 Au
Slide 5: Leveraging the Group's historical profile
ID Logistics’ three fundamental strengths Leveraging the Group’s historical profile 1 2 3 Market expansion Support for “Smart logistics” customers Voice-picking, detail France, Latin picking and warehouse Retail, Specialised Historical America, Asia, geared to high profile retail, FMCG Africa volume
Slide 6: Reinforced by the acquisition of CEPL in 2013
ID Logistics’ three fundamental strengths Reinforced by the acquisition of CEPL in 2013 1 2 3 Market expansion Support for “Smart logistics” customers Voice-picking, detail Historical France, Latin picking and profile Retail, Specialised America, Asia, warehouse geared to retail, FMCG Africa high vo
Slide 7: Extended in the first half of 2014
ID Logistics’ three fundamental strengths Extended in the first half of 2014 1 2 3 Market expansion Support for “Smart logistics” customers Voice-picking, detail Historical France, Latin picking and profile Retail, Specialised America, Asia, warehouse geared to retail, FMCG Africa high volumes Luxur
Slide 8: Business development in H1 2014
Business development in H1 2014 Contracts renewed and new business won CEPL’s customers contracts renewed including LVMH and Le Coq Sportif Selection of new contracts in France Prestigious new contracts won in detail picking and e-commerce: – E.g. Nespresso, Conforama, Cdiscount Development in selec
Slide 9: Prestigious and diversified customer base
Prestigious and diversified customer base RETAIL (30% of rev.) LUXURY GOODS (13% of rev.) INDUSTRY (30% of rev.) SPECIALISED RETAIL TEXTILES - FOOTWEAR (4% of rev.) E-COMMERCE (4% of rev.) (19% of rev.) 9 - H1 2014 results – 28 August 2014
Slide 10: Case study: Nespresso
Case study: Nespresso Flawless processing required in automated solutions for detail picking Processes adapted by Proven IT solution Real-time monitoring type of flow system B2C distance WMS LMxt sales fulfilment Unique interface WCS Supervision Real-time monitoring Store Fulfilment tables fulfilmen
Slide 11: Case study: Nespresso
Case study: Nespresso Flawless processing required in automated solutions for detail picking 1- Invoice inserted into the envelope 2. An indicator lights up in the compartment from which an item needs to be taken. And the quantity to be taken is shown on the pigeon hole display. 3. Once the item has
Slide 12: Organisational and process improvements
Organisational and process improvements Recruitment of a new management team in the Netherlands and creation of a sales force in 1 Germany, strengthening of the management team in China. Implementation of a R&D unit working on 2 disruptive technology and marketing approaches (4 dedicated engineers)
Slide 13: Organisational and process improvements
Organisational and process improvements Roll-out of a Group project known as “New Step” in April 2014, involving all subsidiaries, to 3 harmonise processes globally with deployment scheduled for 2014 and 2015. Appointment of 3 Executive VPs (R&D, Finance, 4 Operations) to tighten up monitoring proce
Slide 14: First half 2014 results
1. 2. 3. “Smart logistics” driving First half 2014 Outlook value creation results 14 - H1 2014 results – 28 August 2014
Slide 15: Further profitable growth in H1 2014
Further profitable growth in H1 2014 Revenues Operating margin Investment Capacity Double-digit growth Improvement Net debt / EBITDA €415.5m 3.3% 1.2x +12.9% +0.6 pt -0.3 pt 15 - H1 2014 results – 28 August 2014
Slide 16: Continued strong revenue growth in H1 2014
Continued strong revenue growth in H1 2014 €415.5m (+33.7%) International 42% France €175.2m (€130.5m in H1 2013) €240.3m (€180.2m in H1 2013) Growth across all geographical regions 58% Contributions from business started up in H2 2013: Carrefour Sud-Est, High base of comparison effect Point P, Panz
Slide 17: Continued improvement in operating margin to 3.3%
Continued improvement in operating margin to 3.3% (up 0.6 point) % H1 2014 H1 2013 chg. Reported Pro forma (€ m) France Internat. Total France Internat. total total* Underlying op. 9.2 4.5 13.7 7.2 1.3 8.5 11.5 +61% income +0.6 As a % of revenues 3.8% 2.6% 3.3% 4.0% 1.0% 2.7% 2.9% points *Pro forma
Slide 18: Net income of €4.8 million in H1 2014
Net income of €4.8 million in H1 2014 €13.7m (0.3) (0.8) Depreciation Costs rel. to customer upgrading of (3.7) relationships CEPL acquired (2.4) (1.6) Net (0.1) financial CVAE €4.8m income/ business Income tax €4.2m (exp.) tax Share in income of associates Underlying Net income Net income operating
Slide 19: Strong cash generation during the first half
Strong cash generation during the first half (€ m) H1 2014 H1 2013 Increase in cash from operating activities to €16.5 million Cash generated by operating activities 17.5 12.6 before WCR and capex Change in the WCR 7.3 (1.0) Improvement in the operating margin Tight WCR management Capex (8.3) (8.4)
Slide 20: Rapid decrease in net debt
Rapid decrease in net debt 30 June 2013 o/w addition of 30 June 2013 (€ m) 30 June 2014 31 Dec. 2013 pro forma* CEP reported CEPL acquisition debt 62.5 75.0 75.0 75.0 - Real estate leases 47.4 50.5 53.6 27.1 26.5 Equipment leases 22.6 23.7 24.9 2.7 22.2 Other borrowings 3.6 4.0 5.1 - 5.1 Gross debt
Slide 21: Sound financial structure
Sound financial structure 30 June (€ m) 31 Dec. 2013 % chg. 2014 Goodwill 121.3 121.2 0.1 Other non-current assets 157.6 161.8 (4.2) Non-current assets 278.9 283.0 (4.1) (Negative) working capital (110.2) (105.5) (4.7) requirement Underlying net cash 62.5 66.6 (4.1) Gross debt 136.5 153.2 (16.7) Net
Slide 22: An investment capacity preserved
An investment capacity preserved Gearing ROCE before tax Leverage 150,0% 25,80% 21,80% 21,9% 1,50 94,1% 19,60% 78,1% 1,20 0,30 12,0% 10,5% 0,20 FY 2012 S1 2013 S1 2013 FY 2013 S1 2014 FY 2012 S1 2013 FY 2013 S1 2014 FY 2012S1 2013FY 2013S1 2014 proforma * Proforma * Proforma * *Pro forma including t
Slide 23: Stock market data
Stock market data Ownership structure Share price (€) and volume Free float 31.8% ID Logistics managers 68.2% Capital Voting rights Eric Hémar 53.1% 69.4% Christophe Satin 7.4% 3.0% Other 7.7% 8.1% Managers 68.2% 80.5% 23 - H1 2014 results – 28 August 2014
Slide 24: Outlook
1. 2. 3. “Smart logistics” driving First half 2014 Outlook value creation results 24 - H1 2014 results – 28 August 2014
Slide 25: ID Logistics, a Group moving forward
ID Logistics, a Group moving forward In the short term: be in a position to support customers with their need for organisational adjustments in an uncertain world. Numerous optimisation/deployment projects underway in several countries (e.g. Sogefi or Sony or Carrefour project) In the medium term: p